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holly 1
Starting Member
Ireland
16 Posts |
 Posted - 24 March 2012 : 15:42:33
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Hi,Ive been in an IVA with Grant Thornton for 17 months & all was going well until I had a bad fall on black ice at the beginning of January, I live with my partner who works full time in a rented house,All his money goes on paying the rent, electric, keeping the car on the road, diesel,insurance etc, I'm only receiving ssp at present of £94 a week which i'm using to buy food & keep the home. I will be off work long term, we have enquired re any benefits we may be entitled to but it doesn't look good, We may be able to get a small amount of working tax credit, but I can't get ESA until my sick pay ends at the end of July,can't claim jobseekers as I'm not unemployed (yet!!!!!),Iv'e been told I could claim for DLA but with all the cuts it's nigh on impossible to get, what a mess.I'm just scared & overwhelmed with everything though Iknow bankruptcy is the right thing to do, I simply can't pay the IVA anymore, I rang GT & advised them of my decision, I don't want a payment break etc, I cancelled my d/d with my bank (co op cashminder which Iv'e heard is a BR friendly bank), I'm just scared if the OR will tell the landlord i'm bankrupt, though only my partner's name is on the lease & he pays the rent no problem, Does the OR always come to your house? I've a friend in the same position & after the initial phone interview he was happy to meet him in a local cafe instead for the main meeting,
Are we allowed to keep furniture etc? we have the basics but no plasma tv or high tech stereo system!!!!Sorry for waffling on but iv'e all this going aroung in my head, 1 last question, my lovely mum is paying for this (fees & rules are maybe different here in NI, Court says OR fee is £525 & court fee is £115) but she's worried about her house,she's leaving it to me in her will-I'm an only child, she has just gone into remission for breast cancer & is worried if anything happens to her within the next 12 months can I be made to sell the house to pay my debts? I don't want her to suffer any more stress than she needs at the minute, I hope someone will read this & try to ease my concerns,my friend who went BR said it really isn't as bad as you fear & it's the best thing he could have done at the time, he's got rid of all the stress, debt & is now happily married, guess I just need people in the same situation to allay some of my fears. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 24 March 2012 : 15:58:01
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Hi Holly,
Sorry to hear you are having a rubbish time and I wish your Mum a speedy recovery.
First of all, speak to your IP as they will give you details advice regarding bankruptcy. Tell them that you want the IVA to fail, if you really think that bankruptcy will be the best option.
If your name is not on the tenancy agreement then the landlord won't be notified.
Usual household items and furniture are safe.
I don't know how it works in NI, in England and Wales, you would probably just have a phone meeting, or go to their offices, the official receiver wouldn't come to your home.
If you are named in your mum's will and god forbid something were to happen to her before or during your bankruptcy, then anything due to you, would go to the official receiver. If that can pay all debts and fees in full, then anything left over would come to you. Nothing of your mum's would be touched otherwise.
Hope this helps, but please speak to someone to chat all of this through.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 24 March 2012 : 17:19:50
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Hi Holly and welcome to the forum. I'm sorry that you're having such an awful time and I wish you and your mum a speedy recovery.
Speak to your contact at GT as Viki says and let them know you want to fail the IVA. They should be able to advise you on what happens next, but if you have any problems there is a poster from GT (user name Grant Thornton) on the sister IVA forum (www.iva.co.uk) and I'm sure she will be able to help you x
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 24 March 2012 : 18:09:40
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I believe Holly has already posted on the sister forum about this. Whether she has been in touch with Karol or not I have no idea.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 24 March 2012 : 19:21:08
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Thanks Jan, I hadn't seen the post x
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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mydebtpages
Starting Member
43 Posts |
Posted - 27 March 2012 : 13:56:41
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Hi Holly
Just on the benefits side, you probably don't want to be in too much of a rush to claim Jobseeker's because the rate is only about £65 a week, much less than your current SSP rate. Once your sick pay ends you should claim ESA if you still can't work. DLA is assessed on the basis of mobility and care needs, but is more oriented towards longer term conditions - you will only get it if your condition is expected to continue for at least 6 months, but if you get it it will be in addition to any other benefit, not instead of. The rules on these things are all changing - a good place to check them out is your local Citizen's Advice.
With your mum's will, you might want to see if a bankruptcy clause can be put in. This would prevent her house being lost to your creditors if you were still in bankruptcy should the worst happen. This can be legally complex - competent solicitor required.
Otherwise unless you are in bankruptcy-sensitive employment (armed forces, police, financial services, various professions, legal)bankruptcy could be a good option for you. It's difficult to see what benefit an IVA is giving you in your current situation.
Best Regards
- MyDebtPages |
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holly 1
Starting Member
Ireland
16 Posts |
Posted - 29 March 2012 : 12:17:33
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| Thanks to everyone for their advice so far, sorry i haven't replied earlier but iv'e had a bit of a melt down this past few days, lay in bed yesterday & just cried with the enormity of it all,feel a bit stronger today,i didn't contact karol on IVA sister site as i rooted around & found my creditors account numbers on some paperwork. GT are aware i want the IVA to fail (just missed my 1st payment yesterday). It's good to know also that it may be possible to get a solicitor to put a clause in the bankruptcy order which means my creditors cannot touch my mums house (fingers crossed !!!!).My ssp runs out end of July & i'd contacted CAB re benefits & they had said about going on ESA when it finishes,Just plucking up the courage to start the ball rolling in a couple of weeks, mum wants me to take the br forms to her solicitor to go over everything anyway so hopefully things will start to improve, It's unbelievable how debt can very nearly ruin your life & your health, i don't think i will ever get back to full health again so it has in effect ruined my life, however i have a brilliant mum & a v supportive partner who let me cry,rant & rave & cheer me up when i'm down.Here's hoping life gets better. |
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